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Red Wing Credit Union

Red Wing Credit Union is a community-oriented financial cooperative owned and managed by its members, offering checking and savings accounts, auto loans, mortgages and home equity loans, credit cards and many other products and services to meet member needs. Credit unions are federally insured and regulated by the National Credit Union Administration, while their savings accounts are protected up to $250,000 by an agency of the U.S. government, similar to how bank accounts are protected through FDIC insurance policies. The Credit Union of Goodhue County, Minnesota is a not-for-profit financial institution established in 1954. Membership to this non-profit financial institution is open to anyone living, working, worshipping, attending school or transacting business in Goodhue County with at least $25 required as deposit for membership purchase of shares in the Credit Union.

Credit unions offer excellent rates on checking, savings and loan accounts, typically offering low or no fees when opening these accounts, with some even offering reimbursement of ATM fees when used out-of-network machines are used. When choosing a credit union it’s essential to compare multiple rates before making your choice; you should also review customer service offerings, number of ATMs/branches in your area and number of branches available locally.

If you are considering joining a credit union, be sure to apply before opening an account. Most credit unions require your name, address and valid forms of identification before reviewing your banking or credit history before opening an account for you. While most U.S. credit unions are state-chartered institutions, there are a few that operate federally chartered accounts; their key difference lies in how deposits are insured.

Sign up for eStatements, electronic versions of your monthly credit union statement that can be viewed online, via email each time it becomes available to view online or you can opt to have them sent directly by mail. If there is any potential conflict of interest when opening an account and at any other time when participating in discussions or voting about matters related to the credit union; further information regarding conflict of interest policy is available online at your credit union’s website.






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